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Tcecarenko [31]
3 years ago
7

On June 30 (the end of the period), Brown Company has a credit balance of $2,185 in Allowance for Doubtful Accounts. An evaluati

on of accounts receivable indicates that the proper balance should be $28,305. Journalize the appropriate adjusting entry. If an amount box does not require an entry, leave it blank.
Business
2 answers:
asambeis [7]3 years ago
8 0

Answer:

Dr Bad debt expense 26,120

    Cr Allowance for uncollectible accounts 26,120

Explanation:

The allowance for uncollectible accounts represents the estimated amount of credit sales that the company doesn't expect to collect, i.e. bad debt. This account is a contra asset account that reduces the amount of accounts receivable, that is why it has a credit balance. It is not reported in the balance sheet, since only net accounts receivable is reported.

Bad debt expense is an expense account that must have a debit balance as any other expense account.

allowance for uncollectible accounts = $2,185 + $26,120 = $28,305

Olegator [25]3 years ago
7 0

Answer: The appropriate entry is journalized as follows:

                                                         Debit ($)                                   Credit ($)

Bad debt expense                            26,120

Allowance for doubtful accounts                                                       26,120

<em>(Being entries to record additional bad expense provision)</em>

Explanation: Bad debt expense is an estimate of the amount of accounts receivable that is deemed uncollectible meanwhile allowance for doubtful accounts is a balance sheet allowance account for bad debt and is usually deducted from the accounts receivable to show the actual amount of accounts receivable that is recoverable.

The $26,120 above was arrived at as the difference between $28,305 and $2,185.

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allochka39001 [22]

Answer:

Respond as quickly as possible.

Know your customers.

Fix your mistakes.

Listen to your customers.

Think long term – A customer is for life.

Deliver contextual-based support.

Innovate the customer journey.

Invest in human and automated service channels.

7 0
2 years ago
Which of the following is not part of manufacturing overhead for producing a​ computer? A. Manufacturing plant property taxes B.
adelina 88 [10]

Answer:

C. Depreciation on delivery trucks.

Explanation:

Depreciation on delivery trucks is not part of manufacturing overhead for producing a​ computer. Manufacturing overhead is also referred as factory burden, factory overhead or production overhead, which comprises of all the manufacturing costs such as electricity cost, factory supplies, factory labor (not direct one), rent, insurance, heating, water and all other energy related costs, salaries, cleaning, oiling, greasing, servicing and repairs etc.

Depreciation on delivery truck is not included in manufacturing overhead, whereas, remaining all other options are the part of it.

Manufacturing overhead are the sum of all of the indirect material, labor and any other cost which can not be identified easily with the products and units produced in the manufacturing plant. These are assigned to the every produced unit on equal basis. For example, if your overhead cost is $50000 for the last year and you have manufactured 5000 units, then by dividing $50000 by 5000 units you can get your manufacturing over head cost which is $10 per unit.

3 0
3 years ago
A.J. is the vice president for Keane Products, a marketing consulting firm. On a business trip to New York City in 2019, he meet
Ede4ka [16]

Answer:

$312

Explanation:

Business Travel expenses are costs incurred when you are away from home on businesses. Accordingly, in this case, AJ is allowed to deduct 50% of his entertainment costs (that is, meal and theater tickets) since it follows a substantial business discussion. The cost of transportation, that is the cab fare is fully covered under the business expenses as it is not subject to the 50% rule of deduction for entertainment and the likes.

Thus,

Total money AJ can deduct as business expenses.

= (50% of 350) + (50% of 190) + 42

= 175 + 95 + 42

= $312

7 0
3 years ago
Lake Erie Company uses a plantwide overhead rate with machine hours as the allocation base. Next year, 600,000 units are expecte
anygoal [31]
I tried working it out idk sorry
8 0
3 years ago
A country that believes an imported product is being sold in its market for a price lower than the cost of production for the pr
Marina CMI [18]

Answer:

Antidumping duty

Explanation:

Dumping occurs when manufacturers decides to export products to other countries at prices below their cost of production. This is what is happened in this scenario. In trying to combat dumping, the importing country may impose antidumping duty.

Now antidumping duty involves putting a tariff on imported goods that are believed to be sold at prices lower than production cost. By increasing their tariffs, it is expected that the exporters in turn increases the prices of the goods they are exporting.

4 0
3 years ago
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